# Canola competition stiffens; demand rises | The Western Producer

> Commonwealth Bank of Australia forecasts 8.27 million acres of canola in Australia, down 4% from last year. Dry conditions in Western Australia could cut area further, and the bank expects 2024-25 stocks-to-use in key markets could be the lowest in eight years.

- Date: 2024-04-17 · published 2024-04-17T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/30711-canola-competition-stiffens-demand-rises-the-western-producer
- Commodities: [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Lower Australian area and tighter global stocks would support canola and canola meal prices, since Australia is a major competitor in export markets.

## Read by commodity

- CANMEAL: bullish ▲

## Sources

- producer.com: https://www.producer.com/news/canola-competition-stiffens-demand-rises/

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.